INSUBCONTINENT EXCLUSIVE:
The government currently holds a 89.18 per cent stake in IRCON International Ltd.The government is planning to sell up to 15 per cent of its
stake in the railway engineering company IRCON International Ltd through an offer-for-sale of shares
The government currently holds a 89.18 per cent stake in IRCON International Limited
''We are planning for IRCON OFS by December depending on market conditions
The stake on offer would be between 10-15 per cent," said an official
The railway engineering firm got listed on the bourses in 2018, and its initial public offering (IPO) had garnered Rs 467 crore
On Friday (November 6), the shares of IRCON International closed at Rs 77.95 apiece on the BSE
At the current market price, the government could raise about Rs 450 crore by selling 15 per cent stake
through disinvestment in the current fiscal
This includes Rs 1.20 lakh crore from Central Public Sector Enterprise (CPSE) stake sale and Rs 90,000 crore from sale of government stake
in the financial institutions.So far this fiscal, Rs 6,138 crore has been raised from selling the minority stake in CPSEs as the COVID-19
pandemic has delayed the big-ticket disinvestments such as Bharat Petroleum Corporation Ltd (BPCL)
Recently, IRCON also emerged as the lowest bidder for the 82.15 km long Delhi-Meerut regional rapid transit system (RRTS) Line's Package 19
involving 25kV AC overhead equipment electrical supply works, after the National Capital Region Transport Corporation (NCRTC) opened the
NCRTC is the organisation responsible for implementing the RRTS project across the national capital region.
